New Investments
Startupbootcamp, Mara Group and Blend Financial Services Plan $250 Million Africa Startup Fund
Startupbootcamp, Mara Group, and Blend Financial Services have announced plans to launch a $250 million fund aimed at accelerating the growth of African technology startups.
According to Ashish Thakkar, founder of Mara Group and a leading British-East African entrepreneur, the fund, which is expected to make its first investments within three to six months, will target key tech ecosystems across the continent.
The deal, sealed during the Future Investment Initiative in Saudi Arabia, targets vibrant startup ecosystems in South Africa, Nigeria, Kenya, Ivory Coast, and Egypt.
With the youngest and fastest-growing population globally, Africa is turning to technology to address challenges like infrastructure gaps.
Key cities like Cape Town, Johannesburg, Nairobi, and Ebene are emerging as tech hubs, as noted in a report by New World Wealth and Platform45.
Startupbootcamp, a global accelerator network with a portfolio worth $6 billion, is a critical partner in the venture.
Thakkar highlighted the importance of scale in investing, stating:
“We’ve engaged in extensive angel investments as a group, but achieving economies of scale is crucial.”
The fund will focus on early-stage and pre-IPO rounds, with plans to evolve into multi-stage investments.
“This is a strong start,” Thakkar said. “Our long-term vision includes creating both early and later-stage funds.”
Thakkar, who co-founded Atlas Mara Ltd., views the initiative as a pivotal opportunity to strengthen Africa’s tech ecosystems.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
Mtor Secures $2.8 Million Pre-Seed Funding to Revolutionize Egypt’s Automotive Aftermarket Industry
Egyptian online auto parts marketplace Mtor has secured $2.8 million in pre-seed funding, led by venture capital firm Algebra Ventures, with participation from notable investors, including Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and several prominent local and global angel investors.
Villgro Africa is Looking For Female-Led African Health Startups for Growth Opportunities
African women leading innovative healthcare startups are invited to apply for support from Villgro Africa, a healthcare-focused incubator and investor.
Egyptian Fintech Paymob Secures $22 Million in Additional Funding For MENA Expansion
Egypt-based fintech startup Paymob has announced a successful extension of its Series B funding round, securing an additional $22 million.